I agree.With its current cash position, gas sales and hopefully...

I agree.

With its current cash position, gas sales and hopefully this year sales of gas assets its conceivable to be sitting on AUD$160M - AUD$200M (depending on sale price) which is somewhere between 67 - 83 cps

Thus remaining asset would be free!


Just backing up for a second, don't forget the Manora debt facility is US$50M - so another way someone might look at it is say est US$207M in first 4 years of operation, subtract the debt of US$50M (which was used to partially fund US$74M of Capex - the balance being equity funded) says cash generated of $157M over 4 years gives US$49M average per year (really close to Troy's number).

Guess it depends on when you said half its value - at 50cps it's getting closer to 1/3 if you guys are correct with the higher gas sale price